WASHINGTON – Gross domestic product isn’t likely to grow as much in the final months of 2022 as it did in the third quarter, but consumer spending should remain strong even though its rapid pace is continuing to slow, National Retail Federation chief economist Jack Kleinhenz said today. “The third quarter’s results clearly dispelled the
PORT WASHINGTON, N.Y. – Higher income consumers in the U.S. with annual household incomes of over $100,000, spent nearly $9 billion on beauty products in the first half of 2022. Beauty sales to these consumers increased by 14%, year over year, according to The NPD Group. This double-digit growth was spurred by a combination of
PORT WASHINGTON, N.Y. — A recent NPD survey has found that 83% of U.S consumers are planning to make changes to reduce their spending in the next three to six months. And consumer demand has already become less predictable than it had been during the first two years of the pandemic, according to NPD data,
